Daqin Railway Plans RMB400 Million to RMB500 Million Share Buyback for Cancellation

On the evening of August 3, several listed companies disclosed share repurchase plans or progress. Daqin Railway announced that it plans to repurchase shares with its own funds of RMB400 million to RMB500 million through centralized bidding on the Shanghai Stock Exchange trading system, at a repurchase price not exceeding RMB7.10 per share. The repurchase period will be no more than six months from the date the shareholders' meeting approves the repurchase plan. All shares repurchased will be cancelled and the registered capital reduced. Based on the repurchase amount of RMB400 million to RMB500 million and the upper price limit of RMB7.10 per share, the number of shares to be repurchased is estimated at approximately 56.338 million to 70.4225 million shares, representing about 0.28% to 0.35% of the company's total share capital.

Bethel announced the same day that it plans to repurchase shares for RMB100 million to RMB200 million for an employee stock ownership plan or equity incentives, with a maximum repurchase price of RMB37.23 per share.

Yunzhongma previously disclosed that it plans to repurchase shares using own funds or self-raised funds of no less than RMB30 million and no more than RMB50 million, for an employee stock ownership plan or equity incentives, with a repurchase period of no more than 12 months from the date the board of directors approves the plan. On the evening of August 3, the company said it had recently obtained a commitment letter from the Lishui Branch of Industrial and Commercial Bank of China for a special loan project for stock repurchase. The committed loan amount is no more than RMB45 million, with a term of three years, and the loan is limited to repurchasing the company's shares through the stock exchange trading system. The commitment letter is valid for one year from the date of issuance.